The UBI already exists for the 1%

sociétal janv. 04, 2017

The universal basic income — a cash payment made to every individual in the country — has been critiqued recently by some commentators. Among other things, these writers dislike the fact that a UBI would deliver individuals income in a way that is divorced from working.

Such an income arrangement would, it is argued, lead to meaninglessness, social dysfunction, and resentment. One obvious problem with this analysis is that passive income — income divorced from work — already exists. It is called capital income. It flows out to various individuals in society in the form of interest, rents, and dividends. According to Piketty, Saez, and Zucman (PSZ), around 30% of all the income produced in the nation is paid out as capital income.

Read more on : medium.com/@MattBruenig/the-ubi-already-exists-for-the-1-d3a49fad0580

Illustration : Mors et Vita - Fertilization 5/11 - V&A Illustration Awards 2016 by Joan Alturo